Cryptocurrency

Dash is an open-source cryptocurrency and blockchain dedicated to providing a cheap, fast network for global payments that is decentralized in nature. Dash aims to improve on Bitcoin (BTC) by offering more secured transactions and more robust privacy. Launched in January 2014 as a fork of Litecoin (LTC), the name “Dash” comes from the term “digital cash.” Since Dash went live, it has expanded to include features like a two-tier network offering incentivized nodes, including “master nodes” and InstantSend. This decentralized project governance system lets users instantly settle payments. Other features include PrivateSend, which provides extra optional privacy settings for transactions, and ChainLocks, making the Dash blockchain instantly immutable.

Dash Founders

Founded by software developers Kyle Hagan and Evan Duffield, the project was initially named XCoin, which changed to Darkcoin two weeks later before once again rebranding to Dash in March 2015 to try and positively change its image.

Dash Key Points

Their website states that Dash aims to be the world’s most scalable payments-focused and user-friendly cryptocurrency. The project relies on a network of master nodes to accomplish this. Masternodes are servers backed by collateral Dash holds that are engineered to offer advanced services securely, along with governance over Dash’s proposal system. Masternodes provide an additional layer of services to the network in exchange for a portion of the block rewards by facilitating functions like PrivateSend, InstantSend, and ChainLocks. Dash is geared towards both institutions and individual users, like merchants, traders, financial services, and those who need to send international remittances. Dash Core Group reported in October 2020 that its strategic goals in the future includes building its brand and ecosystem, further advancing the technology behind the network, and making sure that users are satisfied. 10% of the block rewards for project development are distributed in a competitive and decentralized way by Dash’s governance system, allowing for the creation of many funded organizations, like Dash Core Group. Additionally, the Dash Foundation advocates for cryptocurrency adoption offers paid individual and institutional memberships and receives donations.